As a part of its asset liability management, Karnataka Bank has introduced four interest variants on the balances maintained in savings bank account by its customers. For balance above Rs. 1 crore, the interest rate is revised to 5 per cent from the existing 4 per cent while whereas for balance between Rs. 50 lakh to Rs. 1 crore, the applicable interest rate is 4 per cent per annum respectively. Similarly, for balance in the range of more than Rs. 1 lakh to Rs. 50 lakh the interest rate is reduced to 3.5 per cent from the existing 4 per cent.

Private sector lender, Karnataka Bank has announced the launch of a new product, Met Loan and Life Suraksha” (MLLS) for its bank customers. The product will work as a single premium plan covering the loan liability of a customer. Meanwhile, the bank has also introduced KBL MLLS app which is specially designed for the banks employees to instantly calculate the insurance cover and premium based on loan liability of their borrowers. Meanwhile, the bank also plans to boost its loan against property (LAP) segment.

2017-08-18 :Karnataka Bank ventures into social media

Karnataka Bank has ventured into social media by opening its official pages in social networking sites including Facebook, Twitter, Instagram and YouTube. The official social handle of the bank is @karnatakabank for Twitter and Facebook, and @officialkarnatakabank for Instagram.

As a part of its asset liability management, Karnataka Bank has introduced four interest variants on the balances maintained in savings bank account by its customers. For daily balances of above Rs. 1 crore, the rate is revised to 5 per cent from existing 4 per cent while for daily balances from Rs. 50 lakh to Rs. 1 crore, the applicable interest rate is 4 per cent. Similarly, for daily balances in the range of more than Rs. 1 lakh to Rs. 50 lakh the interest rate is reduced to 3.5 per cent from the existing 4 per cent.

Karnataka Bank expects to improve its performance with a smooth implementation of GST and the Insolvency and Bankruptcy Code. The regulations are expected to drive growth in business.

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.